Steamboat’s June tax collections finish 4 percent ahead of 2011
August 17, 2012
Steamboat Springs — The city of Steamboat Springs' June sales tax collections finished the month 4.4 percent ahead of 2011, according to a report released Thursday by the city. Year-to-date collections are up nearly 2 percent from the same period last year.
However, the city's building-use tax and accommodations tax collections remain down year over year.
The June sales tax total represents the third straight month of increased sales tax collections and the fourth such month this year. January and March sales tax collections were down compared with last year.
The city collected $1.36 million in June and has brought in $8.9 million year to date from its general sales tax. That's up from $1.3 million and $8.7 million, respectively, in 2011.
Steamboat saw growth within all of its sales tax categories — miscellaneous retail, lodging and amenities, sporting goods, utilities, restaurants and liquor stores — and all but one of its sales tax areas in June, with West Steamboat seeing a decrease in collections of 2.4 percent.
The biggest tax collection decrease was the 68.6 percent decrease in building-use tax collections in June, which fell from $251,063 in 2011 to $78,748 in 2012. Year-to-date building-use tax collections are off nearly 57 percent.
Building-use tax revenues are used to fund city capital projects. City officials say the tax fluctuates based on the number of building permits issued, the number of use tax audits completed and the number of ongoing construction projects within city limits. Despite the decrease in building-use tax collections, city Finance Director Kim Weber says Steamboat Springs is on track to meet its 2012 budgeted revenue for the tax.
Revenue from the city's new air service tax was overestimated by nearly $34,000 in the city’s preliminary June report. The preliminary report indicated $118,127 had been collected from the 0.25 percent sales tax. The tax, which was passed by Steamboat voters in November, is dedicated to funding direct ski season jet flights into Yampa Valley Regional Airport.